(Solved by Expert Tutors) Pitino acquired 90 percent of Brey?s outstanding shares on January 1, 20

The subsidiary?s stockholders? equity accounts totaled $533,000 and the noncontrolling interest had a fair value of $61,000 on that day. However, a building (with a ten-year remaining life) in Brey?s accounting records was undervalued by $34,000. Pitino assigned the rest of the excess fair value over book value to Brey?s patented technology (five-year remaining life).

?????Brey reported net income from its own operations of $87,000 in 2013 and $103,000 in 2014. Brey declared dividends of $30,500 in 2013 and $34,500 in 2014. Without preparing a worksheet or consolidation entries, determine the consolidation balances for these two companies. (refer to screenshot 6.12.05)

 

---

Solution details:

STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Apr 19, 2020

PRICE: $15

Solution~000.zip (25.37 KB)

Buy this answer for only: $15

This attachment is locked Download

×

Please Enter The Email Where You Want To Receive Solution.

Get this solution for only: $

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Apr 19, 2020

EXPERT

Tutor

ANSWER RATING

YES, THIS IS LEGAL

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

• As a reference for in-depth understanding of the subject.
• As a source of ideas / reasoning for your own research (if properly referenced)
• For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).

This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.